Blog Archives

Founded in 1951, the National Foundation for Credit Counseling is the largest serving nonprofit financial counseling organization. Find various topics in this blog, including personal finance, credit counseling, housing, budgeting and student loan help. Click here to speak with an NFCC-certified Consumer Credit Counselor.

By Kimberly Rotter The divorce itself doesn’t affect your credit score, but watch out for these common scenarios that most definitely do. Just as your credit scores donâ€™t merge when you get married, they donâ€™t experience any automatic hit or boost when you divorce. The divorce itself is not factored into your credit score whatsoever. However, the process of untangling financially from your ex could leave a mark on your …Read More

By Karen Carlson Poor credit could be costing you thousands of dollars a year. If youâ€™ve suffered from a â€˜so-soâ€™ or even poor credit score for most of your life make a commitment to yourself to raise your credit score in 2014. 1. Face your credit history and score: Like many things in life, the first step is to admit you have a problem and face it head-on. Go to …Read More

By Jason Alderman Anyone whoâ€™s bought groceries, filled their gas tank, or paid insurance premiums recently would probably be surprised to learn that according to Department of Laborâ€™s Consumer Price Index for Urban Consumers (CPI-U), the rate of inflation is relatively flat â€“ only 1.2 percent from September 2012 to September 2013. Thatâ€™s bad news for people who were hoping to boost their contributions to an IRA, 401(k) plan, or …Read More

By Jana Castanon Finances are a hot topic for any couple, and one that must be discussed prior to making a permanent commitment to each other.Â There are three basic money management styles that a couple could choose â€“ they could combine all their resources into joint accounts, have completely separate accounts, or a combination of the two.Â Thereâ€™s isnâ€™t one right way to do it.Â It depends on personalities, upbringing, and values. …Read More

ByÂ Mark FosterÂ There are various factors involved in raising a credit score, but when it comes down to it just two key factors are responsible for an incredible 65% of your score â€“ how timely you payÂ your bills and how much you owe. The less you owe, the better your credit score. The credit scoring gods like that you have credit and that you use it, but they like us …Read More

By Erica Sandberg Dear Erica, My husband and I are divorcing. We have two cards together, and I have one of my own â€” it’s a Nordstrom card that I had even before we were married. None of our cards has a balance. Should we close the cards we have together and get new ones? Or can we split the two and each get one â€” but with the other …Read More

By John Ulzheimer Depending on whom you believe you can have as few as one credit score, and as many as hundreds of credit scores.Â So who is telling the truth?Â The truth is theyâ€™re both right.Â Follow meâ€¦ The apex predator in credit scoring is still your FICO credit score.Â Thatâ€™s not in dispute.Â Itâ€™s by far the most commonly used credit scoring system so if you choose to focus on one brand of …Read More

By Erica Sandberg Dear Erica, This month we are unable to pay our credit card bills for the first time. We have no more money to give after paying for our house and food. My husband has been out of a job for eight months, and I am working at Target which supplies us benefits â€” but I donâ€™t bring in enough to carry us both and pay the bills. …Read More

By Jason Alderman Valentine’s Day may have just ended, but that shouldn’t stop you from talking about your financial future as a couple to keep your relationship on a healthy footing. In any marriage, major life changes may require you to reassess how you manage the family finances. Unfortunately, many couples donâ€™t make time to plan ahead and are later caught off guard by their lack of decisiveness. For example: …Read More

By Matt Bell When youâ€™re getting to know the person youâ€™re thinking about marrying thereâ€™s so much to learn.Â Some of it comes about through questions as you ask each other about past experiences and future goals.Â Some of it also comes about through observation.Â Does he respect his parents?Â Is she usually on time? But it isnâ€™t always easy for couples to talk about money.Â Nor is it easy to understand the truth about …Read More